Base metals miner Trevali has secured additional liquidity of up to $45-million from its long-term syndicate of lenders and its largest shareholder, Glencore.
The Vancouver-headquartered company, which owns mines in Namibia, Burkina Faso, Peru and Canada, entered into a second amendment and restarted credit agreement with lenders for an up to $150-million first lien secured revolving credit facility. The miner also entered into an up to $20-million second lien secured facility with Glencore Canada.
“With these facilities, and a covenant waiver until the end of the year in place, our immediate liquidity concerns are behind us. We can now focus our efforts on our other two main priorities; safely delivering on the T90 programme to sustainably reduce our cost structure and permanently de-levering the balance sheet,” said president and CEO Ricus Grimbreek.